Perak housing developers may apply for Bumiputera quota release

 

IPOH (Feb 14): The Perak State government will allow housing developers to apply for properties under the Bumiputera quota to be released to other buyers if the properties are not sold by the Perak Housing and Property Board (LPHP) within six months.

Menteri Besar Datuk Seri Ahmad Faizal Azumu said this was incorporated in the new Perak Housing Policy which comes into effect on April 1, 2019.

He said the reduction in the time frame from two years to six months was to alleviate the burden on housing developers as they would have to bear damage and maintenance costs of unsold properties.

“If the properties are unsold after six months, the developers may apply for 50% of the Bumiputera quota to be released to other buyers, on the condition that the properties have achieved 30% physical construction and 60% of the non-Bumiputera lots have been sold.

“They may apply for the remaining 50% to be released after physical construction has reached 80% and 90% of the non-Bumiputera lots have been sold,” he told reporters after presenting the Perak Housing Policy here yesterday.

Ahmad Faizal said developers who sold Bumiputera lots to non-Bumiputera buyers before getting the approval from the State authorities would be subject to fines or double levy payments.

Meanwhile, he said the State government would increase the ceiling price for "Rumah PerakKu I" and "Rumah PerakKu II" houses to attract private developers to build the properties in the towns.

“The prices of Rumah PerakKu I houses will be increased from RM70,000 to RM90,000 and from RM140,000 to RM180,000 for Rumah PerakKu II houses.

“In line with the price increase, the minimum build-up of Rumah PerakKu I houses in zone A will be increased from 860 sq ft to 900 sq ft,” he added.